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Innovative new program for poor people

2

Comments

  • AZDuck
    AZDuck Member Posts: 15,468
    doogie said:

    Underpriced compared with what, exactly. Cities with jobs and a perceived future? Cities with actual jobs that earn qualifying incomes?

    If these houses were such a great fucking deal of a lifetime, Hedge funds, Pensions, Private equity and foreign buyers would be snatching them up Without Government assistance. (FDIC, etc.)

    Instead, Flagstar’s program lets poor people buy at top of the market pricing FROM Hedge funds, Pension funds, Private eq, etc.

    I'm not really a real estate guy. But people have been talking about the Detroit Renaissance, and the city's supposed to be getting better and young people are buying property like crazy there. The city, based only on its development from 1880-1960 has great infrastructure, "bones" if you will, and if folks are willing to make it happen it will.

    I remember when I moved to Portland in the early 90's it was kind of the same way. You could buy an old house in NW Portland with a view of Mt. Hood for $120k. Wish I'd had a down payment then, I'd be fat and happy on equity today.
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  • doogie
    doogie Member Posts: 15,072
    Hedge funds buying pools of mortgages and forclosed houses at discount volume pricing was a great investment a few years ago. But nobody went broke taking a profit to take a profit you have to have buyers

    Why didn't you use your VA benefits , 0 down zero closing cost purchase if you thought Portland was such a great deal
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  • AZDuck
    AZDuck Member Posts: 15,468
    doogie said:

    Hedge funds buying pools of mortgages and forclosed houses at discount volume pricing was a great investment a few years ago. But nobody went broke taking a profit to take a profit you have to have buyers

    Why didn't you use your VA benefits , 0 down zero closing cost purchase if you thought Portland was such a great deal

    wasn't eligible back then, unfortunately
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  • BearsWiin
    BearsWiin Member Posts: 5,128
    http://www.santacruzsentinel.com/business/20171116/new-mortgage-program-offers-down-payment-assistance-to-santa-cruz-county-school-faculty-and-staff
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  • Pitchfork51
    Pitchfork51 Member Posts: 27,705
    AZDuck said:

    doogie said:

    Underpriced compared with what, exactly. Cities with jobs and a perceived future? Cities with actual jobs that earn qualifying incomes?

    If these houses were such a great fucking deal of a lifetime, Hedge funds, Pensions, Private equity and foreign buyers would be snatching them up Without Government assistance. (FDIC, etc.)

    Instead, Flagstar’s program lets poor people buy at top of the market pricing FROM Hedge funds, Pension funds, Private eq, etc.

    I'm not really a real estate guy. But people have been talking about the Detroit Renaissance, and the city's supposed to be getting better and young people are buying property like crazy there. The city, based only on its development from 1880-1960 has great infrastructure, "bones" if you will, and if folks are willing to make it happen it will.

    I remember when I moved to Portland in the early 90's it was kind of the same way. You could buy an old house in NW Portland with a view of Mt. Hood for $120k. Wish I'd had a down payment then, I'd be fat and happy on equity today.
    Now just fat and miserable eh?
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  • AZDuck
    AZDuck Member Posts: 15,468
    Pitchfork51 said:

    AZDuck said:

    doogie said:

    Underpriced compared with what, exactly. Cities with jobs and a perceived future? Cities with actual jobs that earn qualifying incomes?

    If these houses were such a great fucking deal of a lifetime, Hedge funds, Pensions, Private equity and foreign buyers would be snatching them up Without Government assistance. (FDIC, etc.)

    Instead, Flagstar’s program lets poor people buy at top of the market pricing FROM Hedge funds, Pension funds, Private eq, etc.

    I'm not really a real estate guy. But people have been talking about the Detroit Renaissance, and the city's supposed to be getting better and young people are buying property like crazy there. The city, based only on its development from 1880-1960 has great infrastructure, "bones" if you will, and if folks are willing to make it happen it will.

    I remember when I moved to Portland in the early 90's it was kind of the same way. You could buy an old house in NW Portland with a view of Mt. Hood for $120k. Wish I'd had a down payment then, I'd be fat and happy on equity today.
    Now just fat and miserable eh?
    Bought a house in Hawaii after the 2008 crash. Did really well. Life is pretty good for me actually. But yeah, I drink too much.
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  • Kaepsknee
    Kaepsknee Member Posts: 14,919
    BearsWiin said:

    http://www.santacruzsentinel.com/business/20171116/new-mortgage-program-offers-down-payment-assistance-to-santa-cruz-county-school-faculty-and-staff

    Whew!!!! Talk about giving someone enough rope to hang themselves. How da fuq does Public school marm afford a house in Santa Cruz?
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  • Pitchfork51
    Pitchfork51 Member Posts: 27,705
    AZDuck said:

    Pitchfork51 said:

    AZDuck said:

    doogie said:

    Underpriced compared with what, exactly. Cities with jobs and a perceived future? Cities with actual jobs that earn qualifying incomes?

    If these houses were such a great fucking deal of a lifetime, Hedge funds, Pensions, Private equity and foreign buyers would be snatching them up Without Government assistance. (FDIC, etc.)

    Instead, Flagstar’s program lets poor people buy at top of the market pricing FROM Hedge funds, Pension funds, Private eq, etc.

    I'm not really a real estate guy. But people have been talking about the Detroit Renaissance, and the city's supposed to be getting better and young people are buying property like crazy there. The city, based only on its development from 1880-1960 has great infrastructure, "bones" if you will, and if folks are willing to make it happen it will.

    I remember when I moved to Portland in the early 90's it was kind of the same way. You could buy an old house in NW Portland with a view of Mt. Hood for $120k. Wish I'd had a down payment then, I'd be fat and happy on equity today.
    Now just fat and miserable eh?
    Bought a house in Hawaii after the 2008 crash. Did really well. Life is pretty good for me actually. But yeah, I drink too much.
    NCWY?
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  • doogie
    doogie Member Posts: 15,072
    AZDuck said:

    doogie said:

    Hedge funds buying pools of mortgages and forclosed houses at discount volume pricing was a great investment a few years ago. But nobody went broke taking a profit to take a profit you have to have buyers

    Why didn't you use your VA benefits , 0 down zero closing cost purchase if you thought Portland was such a great deal

    wasn't eligible back then, unfortunately
    AZDuck said:

    doogie said:

    Hedge funds buying pools of mortgages and forclosed houses at discount volume pricing was a great investment a few years ago. But nobody went broke taking a profit to take a profit you have to have buyers

    Why didn't you use your VA benefits , 0 down zero closing cost purchase if you thought Portland was such a great deal

    wasn't eligible back then, unfortunately
    $3,600 down for FHA back then with seller paid closing costs! You could have, you just didnt.
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